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Just A Reminder...

Dear All,

I personally urges you to scrutinize any "super "trading system by providing fast rich method or all-in-one signal to realize your dream, before paying fee to them. As we all undertand, the way to fortune is a painstaking process, much due to your hard efforts and practice, do you think people now can produce any super machine better than human brain? Please do not fall victime of "impulsive buying", cool down yourself for some days first before giving your most precious asset: "Money".

Saturday, November 29, 2008

The Trading This Week Is Quite Good...




The trade started good with the USDJPY being the opening profitable trade followed by AUDUSD and just on Friday another profitable trade with the EURUSD. Another good trading setup also existed when cross pair of GBPJPY, however I am not able to trade it due equity limitation.

As the USDJPY chart above showed, I placed a long trade (buy stop order) at 95.96 where the first few hours was a nerve wreaking experience as the Yen trade in the opposite direction. At the same time I also place a long trade with AUDUSD at 0.6328, with both trading ending is a very good profit by the end of Monday.

EURUSD followed suit yesterday on Friday when I placed a sell stop order since Thursday at 1.2819. It eventually hit this price level on Friday with well over 100 pips in profit.

All trading were all done on a simple Daily chart time frame by looking at extreme level of the Bollinger Band with default setting.

I will be looking again for a new trade setup opportunity by next week. Until then, happy trading and enjoy the weekend...

Friday, November 21, 2008

New level to watch for USDJPY...and the Aussies

To update on my previous post, a new high level just been developed in the USDJPY. Hence, my previous break-out level of 95.49 is void. The new level to look for a break-out and to start a long entry will be 95.96.

I also find out that another good potential break-out trading opportunities also being in the making with AUDUSD and EURJPY. So also watch out for this currency pairs next week.

While for the Yen, when I look at the upcoming news data for next week, there will be alot of news data coming out on Thursday from Japan. The start of the week, Japanese bankers will be off for holiday, and thereafter a few strings of Japanese data coming out...so watch out for these fundamental movers .

Until then...happy trading guys ;)

Eyeing on Yen for a Bull move

I am eyeing on a possible long trade with the USDJPY or the Yen. Based on my Daily chart monitoring, the Yen may take another bull moves from yesterday low of 93.55, and I am watching for the Yen to break the indicative level of 95.49 before I am considering a long trade with the Yen pair.

Well better do some homework on the next week upcoming news for the Yen from the Japanese market. Until then...happy trading and enjoy the weekend.

Wednesday, November 19, 2008

Market in sideways...will be taking some break

The market movement this week is somewhat flatten. Even after I look at all major currency pairs. But I expect there will be some explosion when the current market trend break at some point. Maybe another short trade or vice versa.

Right now, I need to take a break and will now switch to Daily chart. Daily chart is very relaxing for me but to trade it will require good equity strength. What I would like to do with Daily chart is to look for trend breakout, and from here I will switch to lower time frame.

As in my previous posting in this blog, a break of the 0% fibo level will trigger another new trade opportunities. Right now my cash equity does not allow me to trade right from the Daily chart.

Until then...happy trading.

Monday, November 17, 2008


The market today seems having some choppy waters. After the release of US economic numbers which looks good than forecast, US Dollar briefly gain some bullish tone but then retreat to some previous level.

As you can see from my 5-min EURUSD chart above, the pair is in the ranging mode and the risk is just way too high for my trading account. The risk from 38.2% entry level all the way up to 61.8% level is well over 64 pips.

So I just simply stay away from the market at the moment until some new trend develops. It may develop later today. Happy trading guys ;)

Friday, November 14, 2008

Before reading this, please read the Disclaimer.

With my personal observation on the current market situation, the EURUSD is in the ranging mode. If you refer to my Daily chart above, EURUSD is now in between the 38.2% and 0% level of the Fibo. The main trend for the Daily chart still shows a bear market with some retracements. A reversal may occur if the price break 61.8% level or a continuation of the trend will occur if the price of the EURUSD breaks the 0% level. Personally, I will be looking for another short trade with the Euro and expecting another bear push if the current price break the 0% level.
Looking for a challenging trade next week. Until then happy trading guys ;)

Missing the boat for 40 pips return

Today could be another good trade for a 40 pips short trade with EURUSD, with minimal risk of 21 pips. However, since the trend breakout occurs around the afternoon 15 minutes before the Friday prayer, I have to take my own way and have to miss the boat for another great opportunity. Another trade potential also occur this afternoon aroun 4:00 pm (Brunei), but again I miss that opportunity as I am attending an occassion for Haj season of my close relative.

As of this writing, new resistance level just developed in my 30-minute chart at 1.2662...so I will be watching this level to breach for another short trade opportunity. But I need to be very careful today...it's Friday...so false signal may occur.

Happy trading ;)

Thursday, November 13, 2008

My 30-min Support & Resistance

As you can see from this 30-minute chart I am looking at for the EURUSD, my immediate resistance will be 1.2387 (the blue line). Once this price line is break or tested, I will look for a short trade entry. From here I will be using my favourite tool, the fibo!

Until then, happy trading guys ;)

First Profit of the Month - 80 pips

Yesterday I made a loss of 17 pips in the EURUSD. I overlook my entry and actually enter on a wrong trade at a wrong time. I made a short entry whereas the signal was going for a bull. Fortunately, today I made a profit of 80 pips doing short trade with EURUSD from 1.2491 at around 11.20 ish and finally hit the target around 3 pm at 1.2411

My total loss this month including last week unfortunate NFP is 37 pips, not including last month worst ever loss (due to internet outrage).

Right now if you are going to enter the market, I suggest try to stay on the side. It's way to choppy and most likely the market going north for some retracements. By the way for the 80 pips profit, I am using 30-minute and 5-minute time frame.

*All times indicated here are in Brunei time.

Monday, November 10, 2008

Trading the 1-minute chart : Part 1

In using the 1-minute chart for my trading, I use multiple time frame. It consist of the following time frame:
  1. 30 - minute chart for main trend identification,
  2. 5 - minute chart for entry and to look for breakout trend, and
  3. 1 - minute chart to make entry and stop loss as well as target

You will realized the above time frame will have fast moving price and will require you to monitor the market movement every minute. This can be very exhaustive. For this what I like to do is to look for trend breakout on either 30-minute or 5-minute chart. If I can find or see a new trend developing and break the current resistance or support, I will start to sit infront of my laptop screen until I can find the perfect spot for an entry with good probable result of profiting from it.

For novice or new trader, I DO NOT encourage you to trade in this way. The market movement is quite fast and a lot of market noise are generated with false signal. If you have been with the FOREX market for quite some time you may taste this water condition.

In the next part I will try to share with you how I personally trade the 1-minute chart. Until then, happy trading...

The Most Liquid Currency Pairs in FOREX

Many would not know the most liquid currency pair in the forex market. I always come across this problem with new traders who just joined the bandwagon. Most will start or being introduced to trade less liquid and high price movements such as GBP/USD, USD/CHF or even GBP/JPY. Sometime new traders are being introduced to a lower spread but technically challenging USD/JPY.

For any new traders out there who just know about FOREX market, I better suggest to you all to trade the most liquid currency pair, that is the EUR/USD. It is also dubbed as the 'Big Dollar' in the forex market. Why? Well the Euro are being use by one of the largest economic bloc, roughly the size equal to the United States in both population and total GDP. As of today Euro are being used by Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia and Spain. In the future even Turkey will be included.

EUR/USD pair has the most deep liquidity that the next most traded currency pair in the FOREX market, USD/JPY. In total market volume statistics, EUR/USD accounted for well over 28% of global daily trading volume, according to BIS. With this deep liquidity, the spreads for this currency pair normally offered less than 3 pips and as low as 0.9 pips. My forex broker, FXPRO offer a fixed spread of 1.8 pips for EUR/USD and as high as 5 pips during low trading volume usually occur only on early Monday trading hours (Brunei time) and every first Friday of the month.

The other major currency pair like USD/JPY are more technically challenging than trading the EUR/USD that sometime offered similar spread. The GBP/USD and USD/CHF usually moves in wide gaps than the Euro moving more than 30 pips during news break or after breaking or testing some technical levels. This behavior can easily hit stop loss technical level.

And as I just writing just now, if you are new to forex market...test drive with EUR/USD first and don't try to test and/or pick the fast moving currency pairs like the GBP/USD. But, the choice is yours...happy trading guys.

November Trade...Technically Challenging

It's hard to trade with very low cash inventory. The first week of trading this month were being losers, with the latest lossing trades during Friday's NFP. But my losses are keep to a maximum of 20 pips. If you read my previous blog entry, currently I am trading on a tick-by-tick tactics with only EUR/USD, getting in and out of the market with as less as 10 pips and as much as 30 pips per trade. Additionally, I only trade after the market noise well after all news have been released or announced.

I am projected that I will recover my over 40% losses (due to Internet outrage) within a period of 2 months. It's going to be a hard work and I have to glued to my laptop monitor trading the tick-by-tick tactics. In December I will not be trading a lot as that month will be very tricky.

Monday, November 3, 2008

Internet Outrage Drained 40% of my Trading Account

During the last week of trading in October, I experienced an internet outraged and it drained over 40% of my trading account. The problems start to occur when after placing my short trade with EURUSD, I am unable to get good internet signal to place my stop loss point. I am in that situation for quite some time until nearly 3:00 am (Brunei time). My only reference for the market movements was CNBC channel, and I only able to watch helplessly to the sudden bull movement of EURUSD.

Right now, to what I would like to call 'damage control', is to trade at the most minimum risk and to re-build my cash inventory. There's some good profitable and big movement in the market but I am unable to get into the boat due to the risk involved which are way too high for my trading account to handle.

All this while, I am only trading on the 1-minute chart to reduce my risk with very small stop losses usually offered trading the 1-minute chart.

I will be waiting for the mother of all market mover this Friday night around 9:30 pm Brunei. I will be using the hedging technique and trading the 1-minute chart.

Until then...happy trading guys ;)